Page 45 - Insurance Times July 2016
P. 45
10 Interesting Facts About
The New India Assurance Co. Ltd. &
General Insurance Industry In India
The sun never sets over New India Assurance as it has presence in 28 countries
across the globe and one or the another office works thoughout the day
1. It is the first Indian Insurer to commence its overseas operations in 1920, from its 2nd year of
operation, when Telegraph was the fastest mode of communication, New India opened a London
Branch & the New York Branch.
2. New India Assurance created history by crossing Global Premium of Rs. 18000 crore during F.Y.
2015-16.
3. New India paid 150% dividend for 14-15 and declared 125% for 2015-16.
4. New India is the first Indian Insurer to insure domestic airlines (in 1946). Aviation Insurance was
a business New India entered in the 1920s and when J R D Tata embarked on his solo flight
carrying mail from Karachi to Bombay in a puss moth in 1932, New India had insured his plane.
5. 1st Indian Satellite was insured by New India (in 1981). India has launched 75 satellites until
now and one name that has been associated with the space programme throughout has been
New India, the pioneer of Satellite Insurance in India and continues to be the leader.
6. New India was the 1st Indian Insurer with Health Insurance policies even in 1950s and early
1960s and had a strong Corporate Group Health Insurance portfolio ! Two decades later, new
India's Group Mediclaim Policy for Citibank Credit Card holders was a popular and much copied
group scheme in 1980s.
7. New India was the 1st to enter General Insurance business in Jammu and Kashmir in 1931 by
insuring a new palace built by Maharaja Hari Singh of Jammu and Kashmir opposite the Dal Lake
in Srinagar for a premium of Rs 1.5 lakh at that time
8. 1st logo of New India depicted the political boundary of entire Indian subcontinent as the country
was in 1919. New india's logo itself has mirrored the map of India from its initial days; the logos
changed with the nation, reflecting the aspirations of new india at every step in its progress.
9. 1st to handle Hull Insurance of Indian Shipping Fleet.
10. 1st Indian insurer to set up Enginering Insurance Department in India.
The Insurance Times, July 2016 45
